- A loss of 99 cents associated with its tax valuation allowance;
- 52-cent loss on retirement of debt associated with its tender offer;
- 21-cent loss related to restructuring and management transition charges;
- 4-cent loss for pension plan expenses; and
- a 28-cent gain on the sale of a non-operating asset.
Updated from 8:10 am EDT with additional information. NEW YORK ( TheStreet) -- J.C. Penney ( JCP - Get Report) reported a wider-than-expected second-quarter loss, but there are signs that perhaps the struggling department store chain is finally starting to turn things around. The Plano, Texas-based company reported overall net sales for the quarter of $2.66 billion, down 12% from the prior year's quarter and below Wall Street's expectation of a 9% revenue decline to $2.75 billion. J.C. Penney reported a net loss of $586 million, or $2.66 a share. Wall Street expected a loss of $1.06 a share. The loss includes: